[Vantage Point] BBM Year 2: Hits and misses

Marcos Jr.’s presidency so far still lacks a defining idea or narrative. Bagong Pilipinas appears to be it, but there is little clarity as to what it means in terms of tangible and real outcomes, especially for the marginalized.

This is AI generated summarization, which may have errors. For context, always refer to the full article.

When he ran for the presidency, one major concern raised was how he, the son of an autocrat, would manage his relationships with political elites both here and abroad. Would he attempt to fulfill his father’s ideological goals? Did he have any ill will towards the families and conglomerates that could have acted against him, or had abandoned his family in the 1980s? Would the issue of theThe answer eventually proved to be in the negative. Marcos Jr. has seemingly avoided controversy.

“We expect macroeconomic fundamentals to continue flourishing under President Marcos and his economic team, which should redound to higher growth of our listed companies” he said, expressing hope that “these will encourage and translate to even more companies considering to raise capital through the stock market, which will help further accelerate their expansion while fostering greater inclusive growth through the creation of more jobs and additional investment opportunities in the Philippines.

Beltran called the successful launch of REITs in the Philippines as a boon to the property market and the Philippine economy in general since it will likely attract local and foreign investments. He explained that REITs should also stoke the construction sector which has significant multiplier effects on the economy because “the REITs segment is going to provide additional support to the country’s economic growth beyond the pandemic.

Fiscal deficit: Managing the fiscal deficit remains a challenge, with expenditures outpacing revenues despite tax reforms and efforts to improve revenue collection.Underperformance: Despite initiatives to support the agricultural sector, productivity and growth have been underwhelming. Issues such as inadequate infrastructure, climate change impacts, and insufficient investment continue to plague the sector.

Corruption and covernance: Issues of corruption and lack of government transparency continue to affect public trust and the efficiency of public services. The risks to the growth outlook remain tilted to the downside. Externally, these risks stem from heightened geopolitical tensions, further fragmentation in global trade policy, and weaker-than-expected growth in China.

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